The nexus between Egyptian renewable energy resources and economic growth for achieving sustainable development goals

Abstract

AbstractThis study contributes to the conceptual and empirical studies by investigating the relation between the electricity generated from renewables, carbon dioxide (CO2) emission, exchange rate and unemployment on Egyptian economic growth (EEC). Developing countries are in pursuit of economic growth as it is the path for sustainable economies. The study applies autoregressive distributed lag model (ARDL) using the dataset for the period from 1990–2019. The empirical results highlight the main driving forces that accelerate economic growth. The main findings confirmed that government support is one of the key drivers for positive and significant impacts of electricity generated from renewable energy sources, CO2 emission, and exchange rate in Egypt on economic growth. However, the positive and significant impact of carbon dioxide still plays a challenging aspect to achieve sustainability. Policies have been identified to develop the required energy network of the future